Egypt’s Richest Man Scoops Up the City’s Most Expensive Co-op for $70 Million

Posted On Fri, June 6, 2014 By

Posted On Fri, June 6, 2014 By In Interiors, Recent Sales, Upper East Side

David Geffen has been dethroned as the person to have spent the most on a co-op in NYC, ever. Egyptian billionaire, a.k.a. the richest man in Egypt, Nassef Sawiris closed on the pad at 960 Fifth Avenue this afternoon through a listing held by Brown Harris Stevens.

The penthouse apartment was originally going for $65 million earlier this spring, but power brokers Mary Rutherfurd and Leslie Coleman of Brown Harris Stevens managed to squeeze an extra $5 million out of Sawiris in a bidding war. Funnily enough, 960 has been cited as one of the city’s ‘A-plus’ buildings, and in 1997 a New York Times article wrote that most residents in the building “are worth over $100 million” and that apartments cost about $15 million — my how times have changed!

Egyptian Billionaire Nassef Sawiris 960 5th Ave

The luxurious digs boasts five bedrooms and eight bathrooms with a wraparound terrace with incredible view of the park and the cityscape. The apartment apparently needs some work, but surely nothing out of reach of Sawiris.

Egyptian Billionaire Nassef Sawiris 960 5th Ave

More images of the opulent abode in our gallery.

[960 Fifth Avenue by Brown Harris Stevens]

[Via CityRealty]

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Neighborhoods : Upper East Side

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